Rental prices, insulin and grocery costs: Harris outlines her economic plans in NC

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Vice President Kamala Harris visited the battleground state of North Carolina Friday to outline her economic policy plan with an emphasis on cost-of-living concerns.

She said the American economy is the strongest in the world to a modest crowd inside a Wake Technical Community College automotive building just 20 minutes north of the state's capitol building, but not all Americans are feeling that in their everyday life.

That's why she's unveiling an "opportunity economy" as she calls it. The main foundation to this plan, she said, is "building up our middle class."

"The middle class is one of America's greatest strengths," she said.

The proposal includes a ban on price gouging, funding to build affordable housing and tax cuts for young families and lowering grocery costs, among other things.

This was her first visit to the state and first time speaking in detail about her policy plans since President Joe Biden dropped out of the race and she received enough delegate endorsements to become the presumptive Democratic presidential nominee.

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The economy, despite inflation cooling down, is still a top concern for many Americans, as Paste BN reports. Both Harris and Donald Trump have been focusing on the topic, with Trump rallying in Western North Carolina on Wednesday focusing on the economy, and Harris taking a page from Trump's book saying she wants to stop taxing tips at a Las Vegas rally on Saturday.

Gov. Roy Cooper and Attorney General Josh Stein, who is running for the governorship, spoke before Harris took the stage. Cooper poked fun at how much attention North Carolina has gotten from the Vice President, saying "We had lots of practice at this. This is her 16th trip to North Carolina while being your vice president."

WTK: Harris' economic policy key points

Cost of renting, owning a home: Harris' plan includes building three million more housing units, tax incentives for builders who create starter homes and a $40 billion federal fund for innovative housing methods for use in local government.

Saving to buy a home is an issue close to her heart, Harris said, recollecting her adolescence.

"For most of my childhood, we were renters," she said, until her mother finally saved enough to buy a home.

"It just made us excited that she was so excited," she continued.

She also wants to work with Congress to pass the Stop Predatory Investing Act which would "curtail these practices by removing key tax benefits for major investors who acquire large numbers of single-family rental homes," according to the campaign's news release.

Additionally, she hopes to work with Congress on passing the Preventing the Algorithmic Facilitation of Rental Housing Cartels Act which would "crack down on these companies that contribute to surging rent prices," according to the campaign.

Notably, the Vice President also suggested a policy that would award families up to $25,000 for a first home down payment.

Prescription drug costs and medical debt: Harris wants to put a $35 cap on insulin for everyone, hasten Medicare negotiations and hold pharmaceutical companies accountable for blocking competition.

Grocery costs: She proposed a federal ban on grocery price-gouging, which would have to go through Congress. Harris also wants to give the Federal Trade Commission and states attorney generals more power to investigate companies that break the rules. Along with these plans, she wants to hone in on company mergers that lead to a lack of competition and higher prices for customers.

"I believe competition is the lifeblood of our economy," Harris said about the importance of her policy recommendations.

Cutting taxes: She said she wants middle class Americans to "keep more of your hard-earned money," through tax cuts that will impact more than 100 million Americans.

To do so, she would impose a Child Tax Credit that would give $6,000 in tax cuts to families with newborn children and increase the Earned Income Tax Credit.

Trump attacked Harris' economic track record at his rally in Asheville to a full crowd, blaming rent price increases on the Biden Administration and proposing a 10% to 20% tariff on foreign countries.

"Does anyone here feel richer under Kamala Harris than crooked Joe than you were during the Trump Administration? Is anything less expensive under Kamala Harris and Crooked Joe?" the former president said in Asheville.

And in a news release Friday in response to Harris' announcement, the Trump Rapid Response team said her plans emulate that of a "communist" and that price controls lead to "food lines, shortages, and skyrocketing inequality among citizens."

The state of the race in North Carolina

North Carolina remains in play for both candidates as Election Day draws nearer. In recent years, races have been won by razor thin margins and the state has a storied history of voting red in big elections. Despite the Republican voting streak, Democratic county party chairs have said Harris has ignited a new sense of excitement in voters.

Harris' visit comes days after a Cook Political Report poll showed her leading over Trump by 2 percentage points, which is a shift from months of Trump leading over Biden. That same poll, however, showed respondents were less confident in Harris' ability to handle the economy over Trump, Paste BN reports.

Harris, and her running mate Tim Walz, will be in Chicago next week for the Democratic National Convention where they are expected to formally accept their nominations.